Argentina’s new president, Javier Milei, has a refreshing new economic policy. (Illustration by The Epoch Times, Getty Images, Shutterstock)
[TheEpochTimesFebruary192024](Epoch Times reporter Li Jing reported) Two months after Argentine President Javier Milei took office, the government announced a fiscal surplus in January. This is the first time in nearly a decade that the country’s government finances have turned a profit.
On February 17, local time, Argentina’s Minister of Economy, Luis Caputo, said via the social platform X (Twitter): “The national public sector achieved a fiscal surplus of 518.408 billion pesos in January.” At the same time, he also added a comment: Zero deficit is not achieved through negotiation.
Milley later retweeted Caputo’s tweet and sent a message of congratulations: “Come on, Caputo. Zero fiscal deficit is non-negotiable! Long live freedom!”
In addition, Argentina’s official statement also stated that this is the first time the government has achieved a fiscal surplus since August 2012, and the payment of debt interest has not led to a deficit in public finances.
This means that Argentina’s U.S. dollar reserves have gone from negative to surplus when Milai came to power, just two months after Milai came to power.
(Screenshot of Argentina’s official website)
Sina Finance, Shangguan News, NetEase and other mainland media published this news, triggering discussions among many netizens.
A commentary article analyzed that “Millais’ methods are not profound. They are nothing more than streamlining administration and delegating power to economic development, and showing no mercy on cutting government agencies.” “Streamlining administration and delegating power have greatly activated economic vitality, not only allowing domestic enterprises in Argentina to There was great joy and it also attracted a large influx of foreign investment.”
Netizen “Jenzhan” said, “Many people may point to Argentina’s inflation, but you must know that Argentina’s current inflation is based on the previous center-left alliance’s deficit and excessive currency issuance, superimposed on the pain after relaxing prices. At present, Argentina has regained its trade surplus and fiscal surplus, and as long as it maintains it for more than a year, inflation will naturally go down without the need for excessive currency issuance.”
Netizen “Chang’an Qiaomu on Weibo” believes that “correct management methods and correct economic direction can lead society to the right path. If a country has bloated institutions and always monopolizes resources in state-owned enterprises, the market will definitely not be active.”
Official data released by Argentina in January this year showed that Argentina’s annual inflation rate soared to 211.4% in 2023, reaching the highest level since the early 1990s. This made Argentina surpass Venezuela and become the country with the highest inflation rate in Latin America.
In December 2023, Argentine President Milai announced the launch of economic shock therapy after taking office. The first step was to devalue the peso by 54%, hoping to stimulate exports and increase import taxes.
Millay’s other economic measures also include: halving the number of government departments, cutting provincial expenditures, suspending public works, etc. The above-mentioned measures were recognized by the International Monetary Fund (IMF), which believed that Milley’s decisive policies would help stabilize the economy.
During last year’s election campaign, Milley, who advocated diplomacy to be close to the United States and Israel, said that he would fight against socialists and statists. He also expressed his dislike for the Chinese Communist Party and believed that there was no freedom in mainland China. After taking office, Milley officially withdrew from the BRICS expansion plan led by the CCP.
On February 18, Millais reposted a tweet posted on , Venezuela. Etchebane said Milai united Argentina into a world of freedom and democracy.
Editor in charge: Li Yuyuan#
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2024-02-18 23:34:00
